Nortel Networks Corporation (NT), a leading developer of telecom equipment, is facing severe business challenges as a result of the global economic slowdown, increasing competition, and reduced capital spending on the part of several of its major customers.

Nortel's third quarter 2008 financial results were significantly below our expectations. Revenue from all four business segments decreased year-over-year with further declines expected over upcoming reporting periods. In addition, increasing cash burn rate and a highly leveraged balance sheet remain concerning.

We do not find any near-term growth catalyst for the company and downgrade our rating to Sell, based on the company's debt level, disappointing financial expectations, and general economic weakness that may impede near-term improvements. "NE" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research

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Trading on the NASDAQ Global Market, Power-One Inc. is a leading designer and manufacturer of power conversion products. Founded in 1973, they are also a provider of power management solutions. Headquartered in Camarillo, California, the Company has approximately 4,000 employees and is part of the Diversified Electronics industry.

Power-One provides their solutions for alternative/renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, custom applications, and automated/semiconductor test equipment. The Company offers their clients a wide variety of energy saving “green” products. Their products save energy by providing more useable output power and by generating less waste heat. This in turn saves energy by reducing host-system and facility-level cooling requirements.

Power-One’s product portfolio includes alternative-energy inverters that facilitate taking in clean power from the sun and wind. They also include AC-DC products that refine AC electricity into DC lower voltages, and DC-DC converters that convert DC

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Trading on the NASDAQ Global Market, Power-One Inc. is a leading designer and manufacturer of power conversion products. Founded in 1973, they are also a provider of power management solutions. Headquartered in Camarillo, California, the Company has approximately 4,000 employees and is part of the Diversified Electronics industry.

Power-One provides their solutions for alternative/renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, custom applications, and automated/semiconductor test equipment. The Company offers their clients a wide variety of energy saving “green” products. Their products save energy by providing more useable output power and by generating less waste heat. This in turn saves energy by reducing host-system and facility-level cooling requirements.

Power-One’s product portfolio includes alternative-energy inverters that facilitate taking in clean power from the sun and wind. They also include AC-DC products that refine AC electricity into DC lower voltages, and DC-DC converters that convert DC

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The product portfolio of Bookham, Inc. (BKHM) includes transmitters, transceivers, tunable lasers as well as transmitter modules, receivers, and amplifiers. Bookham reports its operations in two business segments: (1) Optics and (2) Research and Industrial.The company has developed a diverse portfolio of optical products and increased its manufacturing expertise through a focused acquisition strategy and internal development effort. The broad product portfolio provides the company with an opportunity to increase its penetration with existing customers such as Nortel Networks (NT), Cisco (CSCO) and Huawei.Although management has been taking steps to reduce costs and achieve profitability, the company has yet to come out of the red. BKHM continues to face pricing pressure in its telecom business, which has resulted in reduction of prices of telecom products by almost 15% in the past twelve months.Read the full analyst report on BKHM...